12.09.2014 - Singapore’s GIC invests US$700 million in XPO Logistics
Singapore's sovereign fund GIC is joining PSP Investments and Ontario Teachers' Pension Plan in together investing US$700 million (RM2.2 billion) in XPO Logistics Inc, the US company said, adding it plans to use proceeds for unspecified acquisitions. In a statement released in the United States, XPO said the deal will be carried out through the sale of newly issued common stock and preferred stock to the investors, who will hold about 22% of XPO after conversion. Greenwich, Connecticut-based XPO, a provider of freight transportation services, has a market value of US$1.8 billion...............................................Full Article: Source
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